In negotiating the lowest rate, no matter which bank you are with, there is a major common thread. They simply do not want to lose you as a customer! Home loans, credit cards, insurance, accounts, all those products that the banks cross sell you add massive value to their bottom line and make the shareholders smile. So would they refuse you if you went in and demanded a lower rate? Most likely not.
This is what I do for ALL my clients whether they ask me to or not, as it is all part of my mortgage reduction strategy. A rate of 4.58% instead of 5.13% on a mortgage of $500,000 would mean an extra $53 in your pocket PER WEEK that would help chip away even more at your home loan.
Nearly all of my hard hitting negotiations are accepted, or at least come very close. Some (not all) Lenders are very willing to come to the party, you just need to know the right questions to ask! The good thing is, if you bank says no, you have MANY other options and many other lenders who would love to have you on board with a much more civilized interest rate.
If you feel your bank isn’t listening to you, contact us now!
